Thermal Performance and Economic Analysis of MgO and ZnI Nanofluid Based Flat Plate Solar Collector

Keeping the view of higher outlet temperature, the present study assessed the performance of ZnO and MgO nanofluid-based flat plate solar collector at the low volumetric flow rate, i.e., 30 L/h. As a critical finding, it is not urged to use the nanofluid-based collector at location and times of lower solar fluxes due to low percentage enhancement in thermal efficiency. The thermal efficiency was about 67.98% and 65.22% for 1 vol% ZnO and 0.2 vol% MgO, respectively, almost 20.57% and 16.53% more than ethylene glycol:distilled water. For respective nanofluids, the heat absorption parameter intensified by 20.48% and 17.12%. In comparison to electric heating, the payback period at the optimum concentrations of ZnO and MgO nanofluid-based flat plate solar collector was approximately 2.97 and 3.69 years, respectively. Regarding present worth, the cost savings in a life span of fifteen years was approximately ₹ 1,43,732 and ₹ 1,37,803 for 1 vol% ZnO and 0.2 vol% MgO, respectively. Such gains could be extortionate with a large effective area of collectors. The 1 vol% ZnO at 30 L/h ought the shortest payback period and highest cost-saving, hence, profoundly commended in the flat plate solar collector instead of the base fluid.